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Sunday, 2 December 2012

Personal Savings Rate in the U.S. remains Low as Consumer Spending hits Record High

The Personal Savings Rate in the U.S. for the month of October was 3.40% according to figures released by the U.S. Department of Commerce. The figure was 46.6% below the long term average of 6.37% since 1973. The low savings rate was caused by record Personal Consumption Expenditures (consumer spending) as Disposable Personal Income in nominal terms for the month was the highest ever reported.